Osborne Clarke has advised Wirecard AG on the takeover of the acquiring portfolio of Lufthansa AirPlus Servicekarten GmbH. Wirecard and Lufthansa AirPlus Servicekarten concluded an agreement on the takeover of substantial customer contracts for the credit card acceptance as well as further selected assets, which also includes brokerage agreements and network provider agreements. The purchase price amounts to EUR 13 million plus earn out compounds from 2015 and 2016 which can amount up to EUR 1 million in total. The transaction is subject to the approval from the German Federal Cartel Office.

Wirecard is a global full service provider within the field of e-payment and risk management with a recent total turnover of EUR 600.8 million.

Osborne Clarke advised Wirecard in all respects including the negotiations with Lufthansa AirPlus Servicekarten GmbH. The team was led by Dr Matthias Terlau and consisted of Dr Daniel Walter, Patrick Smith, Laura Meliß (all banking and capital markets law), Konstantin Ewald, Lisa Jentschura (both commercial and IT law), Dr Thomas Funke, Nico Just and Ingo Spahr (antitrust law).

Osborne Clarke advises leading service providers and their customers within the field of e-payment – with an international team of lawyers in the United Kingdom, Germany, Spain and Italy. Our complete range of legal advice covers structuring, complex contract drafts, business transactions and regulatory compliance.